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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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On the -- -- -- Good morning everyone we're getting reports of small waves hitting Thailand and Indonesia after a massive earthquake hit near Indonesia's coast this morning.
-- Business is Robert -- in our news from now tracking the development those developments and Robert what's the latest you're hearing.
Yet Diane gets a bit of a fluid situation right now much of the nation of Indonesia under a tsunami watch but a more severe tsunami warning to the northern coast there.
They are still keeping an eye on that massive aftershocks -- eight point two magnitude for some of these.
-- people as far away as India running from building some math -- her massive earthquake which struck our coast today just off the -- I should say.
The same areas or call back in 2004.
The day after Christmas where a tsunami killed more than.
200000.
People powers down there are -- traffic jams -- people trying to get to higher ground in the province near us the quake.
The US Geological Survey reporting the initial quake was at eight point 60 that's -- from the first reports.
Of an eight point seven Tumblr.
There reported casualties or damage yet in -- by the way Diana the world's third biggest producer of cocoa traders want to say no immediate price effects yet.
-- -- also -- a tsunami warning back to you.
All right reverend thanks from the Robert -- live from the news German now let's get more from meteorologist -- -- In our weather center Maria a you know a lot about -- tsunami warnings and watches the latest reports.
Say that there are small waves hitting the coast that in the last number we saw was about four inches so how threatening can those waves be.
-- four inches would obviously not be massive -- devastating destructive tsunami however you still got -- seek shelter.
And go to higher grounding get away from the coastal waters when a tsunami warning -- issue -- area and there is a tsunami watch in effect for about 28 countries.
On along the Indian Ocean because of how powerful this particular earthquake was.
-- -- estimating about eight point six magnitude any time get an earthquake of seven point five magnitude or greater you would have a tsunami watch.
In effect for those surrounding countries now of course we're gonna see.
Whether that watch remains in effect depending on -- continuing readings of the water levels.
And on the also something -- to keep in mind is as -- not a large wall of water is actually a series of waves in you can have a higher waves reaching -- post.
After a smaller -- -- just because you get an initial low level.
Rising -- that doesn't mean you could see a greater one coming up in the next several minutes to even over an hour.
Are the intervals between some of these ways.
And -- are there any sort of red flag numbers people should look out for as a warning -- keep issuing water levels and new wave heights.
-- one of that telltale signs Edison nominees issued for a post is actually -- receding.
Level of water so we tend to see that ride that rise and also -- dropped in water levels so when you see a drop in the water level.
Along the coast at a telltale sign that a tsunami could be.
Are -- soon however of course I can Barry and I can't change and I on each particular earthquake.
And we did hear those imports the last time that massive tsunami hit this very same area that there's a big recession of water before the tsunami hit so.
Well -- everybody to keep an eye out for that and say keep their eyes on these reports coming out and will be short -- -- all the information we have Maria thank you so much for helping us make sense of at all it all comes through thank you.
-- And now let's take a look at the markets here in the US futures dropped the -- -- yesterday that futures are now.
Higher after Alcoa reported some better than expected earnings to unofficially kick off the season Dow futures are up by 78 the S and -- up.
About ten points the nasdaq's up by seventeen.
Over in -- we're seeing stocks rebound a bit from yesterday's sell -- miners were getting a boost.
On those -- -- results you -- -- London's up by 33 Paris up almost forty and Frankfurt's up.
About 77.
Meanwhile we just talked about Alcoa and shares are climbing in the premarket after the company delivered a surprise.
With its earnings last night the aluminum producer reported a profit of ten cents a share.
Easily beating the expected four cent loss Alcoa credits the results with improving global markets especially in the areas of aerospace and automobiles.
The profit was still down 69%.
From a year ago due to falling aluminum prices and rising energy costs.
Revenue came in at six billion dollars topping estimate of five point 77 billion.
And shares rose 6% in after hours trading.
Cody is exploring plans for an IPO in the US possibly as a backup plan if that bid for Avon Products -- that's according to the Wall Street Journal.
-- says Cody is reviewing its unsolicited offer after Avon -- Johnson & Johnson vice chairman -- and McCoy to be its new chief executive.
Avon rejected Cody -- ten billion dollar offer last week calling it opportunistic.
And shares of Avon have fallen around 5% this week indicating investors.
Might see -- take over as less likely now that they're putting a new CEO in place.
People familiar with the matter say Cody is working on formalizing its finance package for Avon and plans to -- lobbying Avon shareholders.
Imus in the morning continues right now on box business.
Giving you -- them Howard across.
